Bitpoint Exchange (2019) — Crypto Hack
Partially RecoveredJapanese exchange Bitpoint lost $32M across five cryptocurrencies when its hot wallet system was compromised.
Summary
Japanese exchange Bitpoint lost $32M across five cryptocurrencies when its hot wallet system was compromised.
How It Was Compromised — CEX via Private Key Compromise
Bitpoint's hot wallet system across five cryptocurrency networks was simultaneously compromised. The exchange, regulated by Japan's FSA, detected irregular remittances at 2am and halted all trading. Both customer and company funds were affected. Parent company Remixpoint suspended services and filed a report with Japan's FSA.
Fund Flow & Laundering Analysis
Stolen assets dispersed across multiple addresses and converted via OTC desks. Bitpoint recovered approximately $2.3M worth of BTC from affiliated exchanges. Remixpoint covered remaining losses from company reserves. Japan's FSA conducted an emergency audit of all licensed exchanges following the incident.